This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.Need a new registration confirmation email? Click here

While futures do not always indicate where the market will go at the opening bell, the S&P closed within two points of its all-time high Thursday and appeared to be in position to test new ground Friday. The Dow extended its reach into new territory during a 10th consecutive day of gains.

The Labor Department said consumer prices increased a seasonally adjusted 0.7 percent last month from January, the biggest rise since June 2009.

However, gas prices rose 9.11 percent, driving the increase, after prices had fallen during the previous four months. That hike in gas prices represents three-fourths of the total consumer spending figure.

For example, food prices increased just 0.1 percent.

Later on Friday, the Federal Reserve posts industrial production numbers. Most economists believe output at the nation's factories, mines and utilities increased 0.3 percent last month.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.